Copy Figure has extra white space

I'm running MATLAB 2013a on Windows 8.1 and I've noticed an annoying bug when I use the 'Copy Figure' command and paste the image into Powerpoint. There is a mysterious extra bounding box that encompasses my pasted image (that is much larger than the figure itself).

My two solutions are to: a) Crop it manually. b) Use the ungroup command to ungroup the extra box from the figure, delete it, and group the rest.

Neither are particularly desirable. However, I did not have this problem when running MATLAB 2013a on a different Windows 7 machine.

Does anyone know the source of the extra white space?